http://fi.co | @founding

Jan KennedyDirector: Founder Institute

2014

http://fi.co | @founding

Globalizing Silicon Valley

A peek at Founder Institute…

The Vision

To help launch meaningful and

enduring technology companies

The Mission

Launch 1,000 companies per

year…

Across 100 cities

An idea-stage incubator that helps entrepreneurs create meaningful and enduring technology companies.

Great People

Expert Training

Aligned Incentives

As featured in

4 months

IDEA

VIABLE BUSINESS

42% Funded

90% Success Rate

http://fi.co | @founding

SO YOU HAVE AN IDEA

now what?

http://fi.co | @founding

0. LOOK IN THE MIRROR

Do you have Entrepreneurial

DNA?

“Ideas are worthless if you can’t execute”

Gifted to do the same?

Job Interview: Guard Dog

GOOD TRAITS1. High Fluid Intelligence (not IQ –

recognise patterns & adapt)

2. High Openness (curiosity to challenge norms)

3. Moderate Agreeableness (flexibility)

4. Experience (increases until 40)

BAD TRAITS1. Predatory Aggressiveness

2. Excuse Making

3. Deceit

4. Emotional Instability

5. Narcissism (vanity)

http://fi.co | @founding

1. IDEATE

Goal: Develop a set of strong ideas

The Typical Process…

1. You see a great opportunity 2. You tell your mum & she tells you it’s fantastic

3. You build the solution

You lose all your money!

99.9% of ideas are bad!

http://fi.co | @founding

2. CUSTOMER VALIDATION

Goal: Test your ideas with Research

Who is (going to

be) drinking

your wine?

Problem – Solution Fit

1. Oil is Bad

1. Vespa Buyer

1. Electric Scooter2. No Vespa friends - Educate 2. Trial Vespa

2. Difficult Commute

„skinny tie“ „not sure if I‘m a scooter person“„tried my firends Vespa“

3. Not Sure

2. Difficult Commute

3. Rent then Buy

Interview & Observe Extreme Users

Insights to test…

Get Testing

Early Experiments- Exploration (interview, observation, survey)- Pitch (currency / real proof)

Later Experiments- Concierge Service (manual execution)- Prototype (minimal viable product)

http://fi.co | @founding

3. REVENUE MODELS

Goal: chose an idea on financial merit

Compare Revenue:

StreamsBarriers

Time Steps

DriversModel

Know your Ideal Customer for each Revenue Stream

PersonaDemographic

Preferences

Does it match your Value Proposition?

Looks like you are…

Solving a real Problem+ For real paying

Customers+ With a Viable Solution

= GOOD CHANCE OF MAKING MONEY

Chose 1 idea and move past GO…

http://fi.co | @founding

5. NAMING & POSITIONING

http://fi.co | @founding

6. LEGAL

http://fi.co | @founding

7. ADVISORS & TEAM

Recruit AdvisorsPrep Team Roles to help launchStart RecruitmentCash Vs Equity CompensationComplete Alignment

Joe Abraham

http://fi.co | @founding

8. Product Development

Identify Assumptions to test with an MVP:

Later Experiments- Concierge Service (manual execution)- Prototype (minimal viable product)

Consider Kickstarter Test for physical products

Be current on competitor offerings

Start Wireframing & Paper Prototyping to get fast feedback (Rapid Experimentation)

Product RoadmapWhenProduct SpecificationWhatDevelopment PlanHow

Testing as you build

http://fi.co | @founding

9. Sales Traction

LaunchHigh PriceGet ReferralsClose first dealAnalyse conversion funnel

Refine & Sell More

http://fi.co | @founding

10. Branding + Marketing

GOAL: Establish Market Credibility

http://fi.co | @founding

11. Fundraising

Goal: Seed Capital / Loan

My company,

is developing

to help

(solve a problem)

(with secret sauce)

(company name)

(a defined offering)

(a target audience)

,

Investor Pitch Deck

Company OverviewWhat is the Problem & Opportunity?Size?SolutionHow to deliver the solutionBenefits / Value of solutionSecret SauceCompetitive AdvantageCompetitor MatrixBusiness ModelFinancial ProjectionsFinancial Requirements / MilestoneSummary

42% Funded

90% Success Rate

If all else fails…

QUESTIONS?

Idea to Viable Business

Jan.kennedy@founderinstitute.com